Report: Saudi ready to fill any oil supply gap

By REPORT
January 5, 2012 13:36

 
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CAIRO - Saudi Arabia is ready to fill any oil supply gaps in the market if needed, a Saudi source told Reuters on Thursday following news of European governments' agreement to ban imports of Iranian crude.

"Saudi Arabia remains ready to fill any supply gaps if they happen, our production is dictated by demand," said the source who declined to be named.

EU countries buy about 450,000 barrels per day (bpd) of Iran's 2.6 million bpd in exports, making the bloc collectively the second largest market for Iranian crude after China.

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